Portfolio
ACR Capital Holdings
| Investment type | Growth Capital |
|---|---|
| Region | South East Asia |
| Status | Current investment |
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Nature of Business
Asia Capital Reinsurance Group (ACR) is the world’s first independent reinsurance group with an exclusive focus on serving clients in the fast-growing pan-Asian region, extending from the Middle East, through China to Japan, and south to Australia and New Zealand. Headquartered in Singapore, ACR currently serves over 600 clients in more than 50 countries.
Established as a start-up in 2006 by CEO, John Tan, ACR has strong capacity in the Asian market, global underwriting standards and expertise, as well as an in-depth knowledge of the Asian insurance markets. It specialises principally in the aviation, casualty, group medical, motor, energy, engineering, marine and property sectors.
Investment Overview
3i’s Singapore team led the investment in ACR in November 2006, contributing US$200m of the total US$620m. This deal represents 3i’s largest Growth Capital investment in the region to date.
We were introduced to John Tan in early 2006 when he was looking for a local Asian investment partner to create ACR. Our experience in the insurance sub-sector, specifically through our European investment in Aspen Re, was a key factor in building a strong relationship with the company.
Through our extensive network we introduced Thaddeus Beczak as Chairman. A former Chairman of Nomura Asia, Beczak brings a wealth of Financial Services experience to the business.
Since the transaction we have played a supporting role in developing ACR’s strategy. Over the last five years, with our continued support, ACR has expanded and now has offices in Bahrain, Dubai, Hong Kong, India, Malaysia and Taiwan.
The region’s reinsurance markets are growing strongly with most domestic insurers still considered under-developed, and as such there is a lack of diversification which gives rise to a significant reliance on reinsurance, positioning ACR for significant future growth.
